Punjab National Bank (PNB) Loan Against Property

Features & Benefits of Punjab National Bank Loan Against Property

One of the top private banks in India, Punjab National Bank, offers loans secured by your residential or business property. The Punjab National Bank offers loans secured by property that allow borrowers to borrow up to 60% of the property’s value. Punjab National Bank provides specialised lending alternatives with affordable interest rates and flexible payback schedules. Given that approval is completed in three days, a loan secured by your property can be the ideal option for all your financial demands. The loan procedure is swift and straightforward, and door-step services are available.

The following is a list of features and benefits of Punjab National Bank LAP include the following:

• Long-term loan with low EMIs
• Favourable interest rates
• Effortless documentation
• Speedy processing
• Mortgages for both residential and business properties

What is the Eligibility Criteria for a Punjab National Bank Loan Against Property? 

The following eligibility requirements for Punjab National Bank Loan Against Property are subject to change depending on the profession:

• Individuals and joint owners with the ability to repay loans and moveable property
• Minimum Income: For salaried applicants, Rs 25,000 per month, and for those who are not, Rs 3 lakh per year.

Punjab National Bank Loan Against Property Interest Rates

The credit score and many other indicators are used to set interest rates. The table below pertains to the Punjab National Bank Loan Against Property Interest Rates:

Factors Affecting Punjab National Bank Loan Against Property Interest Rates

The applicants must be aware of the interest rate before requesting for any loan facility. Affordable interest rates automatically aid your ability to repay your loan. As the interest rate rises, so will the EMI amount. Your payback burden is lessened with a personalised Punjab National Bank loan against property interest rates.

The table below displays some of the most important details surrounding the Punjab National Bank Loan Against Property:

• A wide range of non-home loan options, such as loans for purchasing and building a commercial property and residential and commercial property, lease rental discounting, and more.
• An extensive branch network in India.
• An efficient service model with on-site resources for quick processing and disbursement.
• Possibilities for increasing the loan amount if costs rise.
• Team of committed employees working to guarantee customer pleasure.
• flexible Repayment alternatives.

Punjab National Bank Loan Against Property Fees and charges

Punjab National Bank offers loans against property with the following fees and charges applicable:

Documents Required for Punjab National Bank Loan Against Property

The paperwork is simple and hassle-free. The following papers must be submitted with the application for a loan from Punjab National Bank secured by real estate:

For Salaried Individuals

A photo-attached application form 

A valid residence proof

• Aadhar card
• Ration card
• Telephone bill
• Electricity bill
• Voter ID card

An Identity Proof

• Voter ID
• Driving Licence
• Aadhar card
• Employer’s ID

Income Proof

• Last 6-month bank statement of the account in which salary gets credited
• Last six months salary slip
• Photocopies of the documents of the property one wants to acquire
• 2 years of Form 16

For Self-Employed Individuals

3 years financial statements

Proof of Residence

• Aadhar card
• Ration card
• Telephone bill
• Electricity bill
• Voter ID card

Proof of identity

• Voter ID
• Driving Licence
• Aadhar card
• Employer’s ID

Income Proof

• ITR of last 3 Years with P/L account and audited/certified balance sheet by a CA
• Bank Statement of last 12 months 
• Proof and certificate of existence of business with a business profile
• Photocopies of the documents of the property one wants to acquire.

How does the EMI Calculation Work for Punjab National Bank Loan Against Property?

The PNB Loan Against Property EMI Calculator uses data like the interest rate, loan principal, and loan tenure to determine the EMI amount. To utilise the PNB Loan Against Property EMI Calculator, follow these instructions:

• The loan’s principal amount you want to borrow should be entered.
• Enter the interest rate that the provider has quoted.
• Type in the loan term that you want to repay the loan over.

You will be given the required EMI amount once you have submitted the necessary information. The online PNB Loan Against Property EMI calculator is a free resource that can be used repeatedly and in many configurations. Using this EMI calculator, you may quickly come to a decision that fits your needs and budget.

The monthly payment on a mortgaged loan is determined by the type of property (commercial, industrial, or residential), the occupation (employed, self-employed, or businessman), the loan’s tenure, the interest rate, and the loan’s total amount.

How does Punjab National Bank compare With Other Lenders?

The table below pertains to Punjab National Bank LAP interest rates compared with other lending institutions:

Punjab National Bank Loan Against Property Customer Care Number

Borrowers facing any issues related to Punjab National Bank LAP services can be resolved quickly and hassle-free. Individuals can contact customer care at the below number:

Punjab National Bank customer care number- 1800 120 8800.